Benchmarking

With YCC #42 and YCC #60 being identical condo corporations and sitting side-by-side on Dixon Road, it is obvious that the owners would compare how well their corporation was doing compared to the condo next door.

The benchmarking of two identical corporations is fairly easy if you measure:

1.	The selling prices. That is the truest guide.
2.	The number of days the units sit on the market.
3.	Maintenance fees, special assessments and loans.
4.	Reserve Fund Study. Is the recommended repairs and replacements being done?
5.	Political stability. The turnover of management, security and cleaning companies, lawyers, superintendents and contractors.

For the first five years or so, YCC #60 was doing better than YCC #42 but by the late 1970's YCC #42 was ahead.

United Homeowners Association
By 1980, a number of owners in YCC #60, in an attempt to remove their board of directors and replace the property management, formed the United Homeowners Association. (An ex-president of the corporation took the condo to superior court to overturn the advanced balloting and other claimed election irregularities.)

The homeowners association compared the performance of their board and manager to the results next door by publishing data from their respective financial statements. There figures showed:

Year	Extra costs
1976	$150,970
1977	$151,030
1978	$111,854
1979	$213,883
1980	$319,755
Total	$947,992

So in five years, YCC #60 spent almost $1 million more than YCC #42. Comparing common element fees and costs, their condo paid more and got less. Besides an operating deficit, their Reserves were almost depleted.

The homeowners association also compared Vince Cianfarani's human relation skills with their manager's alleged abusive people skills. (The manager of YCC #60, was also on the condo's board of directors.)

Vista Property Management
In 1983, the new board at YCC #60 asked Vince Cianfarani to manage their corporation as well as YCC #42 and so Vista Property Management, Vince's company, managed both corporations and the standards for both corporations became comparable.

As late as 2003, the listing prices for units in both corporations were comparable with two-bedroom units listing at $120,000.


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